However, the losses keep coming in the meantime, with forecasts of a $700 million full-year deficit this financial year.

Chief executive Alan Joyce is pinning his hopes on the repeal of the Qantas Sale Act, but it is not guaranteed to get through the Senate.

"It's about time the Government brought on this debate," Labor's transport spokesman Anthony Albanese argued.

Yesterday, Labor submitted its formal amendments to the Qantas Sale Act which would remove restrictions on individuals owning more than 25 per cent and foreign-owned airlines owning more than 35 per cent of the airline.

However, the Opposition is refusing to budge on keeping the Flying Kangaroo majority Australian-owned, and it says the Government's bill to remove all ownership restrictions will not get the numbers in the Senate.

"It doesn't have the support of Labor, of The Greens political party, of the Palmer United Party, of Nick Xenophon," Mr Albanese added.

"I think it's important that Qantas has access to capital. It employs 30,000 Australians, adds $1.4 billion to the budget. So I think it's alright to allow some foreign ownership, some foreign investment, but at the end of the day, I think it's got to be a majority Australian-owned airline."